Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
US-based ophthalmic medication developer Ocuphire Pharma on Monday closed a $5m round featuring Biosciences Research and Commercialization Center, the investment arm of Western Michigan University, along with RBI Opportunities Fund, Belle Capital Fund, Grand Angels Fund, First Capital Fund and Michigan Angel Fund, assorted angel syndicates and undisclosed additional investors. A share of the cash will help Ocuphire fund multiple clinical trials of its lead candidate, a daily eyedrop branded Nyxol intended to treat front-of-eye disorders such as night-vision disturbances, glaucoma and mydriasis. Ocuphire Pharma previously raised $1.8m of a targeted $10m equity and debt round in February 2019, according to a filing, though it is unclear whether that sum was included in this week’s round.
Targeted Pharmaceuticalsa US-based cannabinoid compound developer based on research at George Mason University, has officially secured the rights to exploit intellectual property targeting oncological and central nervous system diseases. Targeted Pharmaceuticals will develop autophagy-inhibiting compounds including chloroquine with the potential to combat multiple diseases where the body’s cellular recycling process – known as the autophage – has become erratic. The approach was demonstrated in a phase 1/2 trial targeting an early stage of breast cancer known as breast ductal carcinoma in situ. Lance Liotta, co-director at George Mason University’s Center for Applied Proteomics and Molecular Medicine, helped oversee the study. He now serves as chief medical officer of Targeted Pharmaceuticals.
